Cost of Living Crisis: UK Exports 2021 – Brexit Identified As A Major Factor
Truth to Power on YouTube
Every serious independent economist argued that massively raising barriers with your main trade partner is an extraordinary act of self-harm. And now, 6 years too late, the extreme right wing Brexit backing Express newspaper last week carried the headline “Brexit blamed as UK exports 2021 drop 14% – Britain ‘missing out’ on global trade”.
And although the article went on to trumpet the world-beating amount of trade deals the UK has struck, it also reported economist Gabriella Dickens’ comment that UK export growth would remain sluggish “as UK exporters continued “to be slowly cut out of global supply chains, due to the extra administrative burden for EU firms of sourcing goods from Britain”.
The Daily Express reports:
Brexit blamed as UK exports drop 14% – Britain ‘missing out’ on global trade
EXPERTS believe that Brexit is the key reason why the UK’s post-pandemic global trade has not recovered as other countries’ have, with goods exports falling 14 per cent in the three months to January.
Jonathan Portes, professor of economics at King’s College London, told the Financial Times: “While most other advanced economies have seen a strong recovery in trade, UK exports remain below pre-pandemic levels.”